This Week: New home sales, Nike earns, consumer spending

The Commerce Department points its Might well additionally snapshot of contemporary U.S. home gross sales Tuesday and its month-to-month tally of particular person spending Friday

June 22, 2020, 1: 53 PM

2 min be taught

A survey at among the main industry events and economic indicators upcoming this week:

HOUSING MARKET BELLWETHER

The Commerce Department points its Might well additionally tally of contemporary U.S. home gross sales Tuesday.

Gross sales slowed in March as corporations closed so that you simply might be pleased the coronavirus outbreak, but they picked up all yet again in April. The frightful fabricate reflects sturdy establish a query to for newly constructed properties at a time when many dwelling owners are staying establish, exacerbating an already power scarcity of previously occupied properties within the marketplace. Economists ask of gross sales of contemporary properties rose all yet again last month.

Original home gross sales, seasonally adjusted annual rate, by month:

Dec. 731,000

Jan. 774,000

Feb. 717,000

March 619,000

April 623,000

Might well additionally (est.) 645,000

Provide: FactSet

BREAKING A SWEAT

Wall Motorway expects that Nike closed out its last fiscal year on a downbeat model.

Analysts predict the athletic apparel and shoes firm will tell Thursday that its earnings and income declined in its fiscal fourth quarter that resulted in Might well additionally. Nike has made an aggressive shift to on-line gross sales, which helped drive its earnings within the December-February quarter. But the firm has since acknowledged that the shutdown of shops as a result of pandemic afflict its wholesale industry.

IN A SPENDING MOOD?

Customers pulled aid sharply on spending as the coronavirus outbreak shuttered corporations and left thousands and thousands of Americans out of labor.

Spending sank 6.9% in March and a file-shattering 13.5% in April as customers lop aid on goods and companies across the board, from cars and clothing to doctor visits and haircuts. Economists project that particular person spending surged 8.6% last month as states started allowing corporations to reopen. The Commerce Department delivers its Might well additionally recordsdata on particular person spending Friday.

Consumer spending, month-to-month p.c change, seasonally adjusted:

Dec. 0.4

Jan. 0.4

Feb. 0.2

March -6.9

April -13.6

Might well additionally (est.) 8.6

Provide: FactSet

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